US Mortgage Rates Little Changed in the Week Ending November 14th
Following Elections Results and a Fed Rate Cut, Mortgage Rates Stall
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending Thursday, November 14th.
The 30-year fixed-rate mortgage averaged 6.78%, down from last week when it averaged 6.79%. A year ago at this time, the 30-year rate averaged 7.44%.
The 15-year fixed-rate mortgage averaged 5.99%, down from last week when it averaged 6.00%. A year ago at this time, the 15-year rate averaged 6.76%.
Commenting on the results of this week’s survey, Sam Khater, Freddie Mac’s Chief Economist said:
“After a six-week climb, rates have leveled off, but overall affordability continues to be an issue for potential homebuyers. Our latest research shows that mortgage payments compared to rents on the same homes are elevated relative to most of the last three decades.”
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